Carvana Co. (NYSE:CVNA) Given Average Recommendation of “Hold” by Analysts

Shares of Carvana Co. (NYSE:CVNA) have earned an average recommendation of “Hold” from the nineteen ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $182.29.

Several equities analysts have recently issued reports on CVNA shares. Stephens began coverage on Carvana in a research report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price target for the company. Citigroup lifted their target price on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. DA Davidson increased their price target on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price objective on shares of Carvana from $185.00 to $230.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, Bank of America increased their target price on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th.

Insider Transactions at Carvana

In related news, CFO Mark W. Jenkins sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.14, for a total transaction of $730,700.00. Following the completion of the sale, the chief financial officer now directly owns 180,609 shares in the company, valued at approximately $26,394,199.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Ira J. Platt sold 664 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $150.00, for a total transaction of $99,600.00. Following the completion of the transaction, the director now directly owns 30,227 shares in the company, valued at approximately $4,534,050. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.14, for a total transaction of $730,700.00. Following the completion of the sale, the chief financial officer now directly owns 180,609 shares of the company’s stock, valued at $26,394,199.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,955,891 shares of company stock worth $489,299,685 in the last quarter. Company insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Carvana by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after buying an additional 655,603 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after acquiring an additional 323,153 shares during the period. Chicago Capital LLC purchased a new position in shares of Carvana in the third quarter valued at about $940,000. Tidal Investments LLC purchased a new position in shares of Carvana in the first quarter valued at about $1,783,000. Finally, Legacy Capital Group California Inc. bought a new position in shares of Carvana in the third quarter worth about $1,248,000. 56.71% of the stock is currently owned by institutional investors.

Carvana Price Performance

Shares of NYSE CVNA opened at $202.53 on Tuesday. The company has a 50 day simple moving average of $167.97 and a two-hundred day simple moving average of $133.19. Carvana has a fifty-two week low of $25.09 and a fifty-two week high of $203.72. The company has a market capitalization of $41.03 billion, a price-to-earnings ratio of 88.83 and a beta of 3.44. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. Analysts expect that Carvana will post 0.29 EPS for the current fiscal year.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.